Binance restores withdrawals after $6.3 billion hack

Binance announced that it has resumed user withdrawals after covering 95% of the assets stolen in a breach that cost the exchange roughly $6.3 billion. The exchange confirmed the recovery figure in a statement to Tech…

The breach, first reported in early 2024, left a massive hole in Binance’s balance sheet and sparked a wave of panic across the crypto market. By shoring up most of the loss, Binance avoided a forced liquidation of us…

Industry analysts note that the speed of the recovery is unusual for a hack of this scale. Most exchanges take months, if not years, to fully reimburse victims. Binance’s ability to marshal the bulk of the stolen asse…